WEBVTT - Searching for climate solutions in the Amazon

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<v Speaker 1>Welcome to zero. I am Akshatrati. Today were leaders at

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<v Speaker 1>the gateway to the mighty Amazon River. It's November eleventh,

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<v Speaker 1>and the United Nations Climate Summit COP thirty has officially

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<v Speaker 1>begun here in Brazil. It's happening in Berlen, a port

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<v Speaker 1>city of about two million people at the mouth of

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<v Speaker 1>the Amazon River. The negotiations started with a fight about

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<v Speaker 1>what to put on the agenda, and that's not unexpected.

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<v Speaker 1>It often happens at the start of a COP meeting,

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<v Speaker 1>but it is certainly a rockier start than the Brazilian

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<v Speaker 1>hosts of COP thirty would have wanted. Later on in

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<v Speaker 1>today's episode, I'm speaking with an experienced climate diplomat, Rachel Kite,

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<v Speaker 1>about the outcomes she's looking for here in Brazil and

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<v Speaker 1>who will fill the void left behind by the US.

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<v Speaker 1>But first, I want to give you a sense of

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<v Speaker 1>what it's like to be at a climate summit near

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<v Speaker 1>the Amazon Forest and our reactions to the world leader's

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<v Speaker 1>speeches that took place last week opening the proceedings here

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<v Speaker 1>in Brazil. To do that, I'm joined by my colleague

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<v Speaker 1>Sarah Wells, who leads Bloomberg's coverage of climate and energy. Sarah,

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<v Speaker 1>Welcome to the show.

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<v Speaker 2>Thanks Egsha.

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<v Speaker 1>So we got a chance to see a little bit

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<v Speaker 1>of the Amazon forest. What was it like we did?

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<v Speaker 2>It was great. I mean after a couple of days

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<v Speaker 2>in the blue Zone at the World Leader's Summit, you

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<v Speaker 2>could be literally any country in the world. You were

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<v Speaker 2>in a windowless tent, and so to be outside in

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<v Speaker 2>the forest learning new things about fruits and plants and

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<v Speaker 2>how they grow, getting some time on a boat, getting

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<v Speaker 2>to have a beer and look at our surroundings was fantastic.

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<v Speaker 2>And did I guess speak to the controversial reason for

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<v Speaker 2>putting the summit in Belem in the first place, which

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<v Speaker 2>was to try to give the attendees some exposure to

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<v Speaker 2>what's happening here.

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<v Speaker 1>We saw a three hundred year old tree called the Sumahoma.

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<v Speaker 1>We saw a boat filled with military police trying to

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<v Speaker 1>take care of all the delegates who are coming here.

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<v Speaker 1>And the reason for all that security is that we've

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<v Speaker 1>had many world leaders show up here at copp and

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<v Speaker 1>give speeches. It's typical at the start when they want

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<v Speaker 1>to inspire the delegates to go and do something bold,

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<v Speaker 1>But there weren't that many world leaders this time around.

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<v Speaker 2>That's right. I mean, I had the King and Queen

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<v Speaker 2>of Sweden on my plane coming here. But unfortunately, within

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<v Speaker 2>the Blue Zone itself, the journalists were very segregated from

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<v Speaker 2>the world leaders. It's literally a barricade going down the

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<v Speaker 2>middle of the corridor, and so seeing a physical world

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<v Speaker 2>leader in the flesh was not what we experienced. We

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<v Speaker 2>sat an ow media room and watched them on TV.

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<v Speaker 1>Regardless, I know that was not ideal. We would have

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<v Speaker 1>wanted to really be in the room with the world leaders.

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<v Speaker 1>But were there highlights from the speeches?

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<v Speaker 2>Yeah, I think I enjoyed. Me and Motley, the Prime

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<v Speaker 2>Minister of Barbados obviously you know she has has some

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<v Speaker 2>credentials as a as a climate campaigner, but she came

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<v Speaker 2>with a specific idea around methane, which was something new.

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<v Speaker 3>I have come here however, this afternoon to speak on

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<v Speaker 3>one s and that is methane. The scientists advise that

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<v Speaker 3>this is the main way that we can not stall

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<v Speaker 3>the increase in temperatures, but reverse the temperature increase that

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<v Speaker 3>we have seen across the planet.

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<v Speaker 2>For Bloomberg clients and listeners, Petro Sanchez floated the idea

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<v Speaker 2>of a levy on business class flights and private jets

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<v Speaker 2>class premium. Yet obviously that's of a concern to a

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<v Speaker 2>relatively small proportion of the world, but certainly for some.

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<v Speaker 2>And then we did have some quite remarks from some

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<v Speaker 2>of the Latin American leaders about Trump. In particular, Columbia's

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<v Speaker 2>Petro was the most direct.

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<v Speaker 1>Elke Senor Donald Trump Novenga el dubta l personal dena

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<v Speaker 1>Jevas Sosia that a laismo econeia allow maney that.

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<v Speaker 2>You know he he said that Trump is against humanity

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<v Speaker 2>and a bunch of other things. And so there were

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<v Speaker 2>definitely some strong feelings expressed about the American position on

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<v Speaker 2>climate at this point.

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<v Speaker 1>And it's just the start of the negotiations. It's your

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<v Speaker 1>first COP meeting. What has your experience been like.

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<v Speaker 2>I think everyone said before I came that you know,

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<v Speaker 2>the sort of the rest of the world recedes and

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<v Speaker 2>suddenly you're in this bubble where you know, some some

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<v Speaker 2>things make sense, some things really don't, And I think

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<v Speaker 2>that's that's the case. You know, you suddenly find yourself

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<v Speaker 2>sort of pouring over very technical discussion which can have

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<v Speaker 2>real world consequences. So definitely, you know, being being in

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<v Speaker 2>a media center with hundreds of other journalists, expensive food,

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<v Speaker 2>very popular, occasional arrivals of coffee deliveries that you know,

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<v Speaker 2>that stuff has been has been fun. But I think

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<v Speaker 2>what we you know, what we are all here to

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<v Speaker 2>write about, is significant pieces of news that will hopefully

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<v Speaker 2>come out of this. And that's that's on all the attendees,

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<v Speaker 2>but it's obviously most of all on our on our

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<v Speaker 2>host country, Brazil.

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<v Speaker 1>And what do you expect we might be writing about

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<v Speaker 1>in two weeks time.

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<v Speaker 2>Well As of now, the discussion is all around what

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<v Speaker 2>ends up on the agenda. That's a very you know,

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<v Speaker 2>temporary discussion. As I said earlier, I do think methane

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<v Speaker 2>seems to have some momentum behind it, so let's see,

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<v Speaker 2>let's see if we get anywhere on that. And then

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<v Speaker 2>I think this discussion around whether there should be a

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<v Speaker 2>potential roadmap to move away from fossil fuels. Obviously, the

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<v Speaker 2>declaration to even attempt to move away from fossil fuels

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<v Speaker 2>was highly contentious at previous cops and so I think

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<v Speaker 2>the fact that Brazil is even looking to put that

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<v Speaker 2>back on the agenda does suggest that they're prepared to,

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<v Speaker 2>you know, to go into a region that will come

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<v Speaker 2>with a fight, so we will be watching that really closely.

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<v Speaker 2>And then lastly, I would say I think the influence

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<v Speaker 2>probably not on the ground, but let's see the influence

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<v Speaker 2>or otherwise of the US on proceedings is obviously a

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<v Speaker 2>huge thing for us to watch.

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<v Speaker 1>Thank you, Sarah, thank you for having me join me

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<v Speaker 1>after the break where I speak with Rachel Kite, the

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<v Speaker 1>UK's Special Representative for Climate, about negotiations in an increasingly

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<v Speaker 1>polarized world. To find all of Bloomberg's coverage of COP thirty,

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<v Speaker 1>head to our website bloomberg dot com Forward Slash Green.

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<v Speaker 1>You can also sign up to Bloomberg Green's newsletter that

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<v Speaker 1>comes out daily during the COP meeting. Find it at

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<v Speaker 1>Bloomberg dot com Forward Slash Newsletters. There are a few

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<v Speaker 1>people as well placed to understand how climate negotiations play

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<v Speaker 1>out as Rachel Kite. She is the UK's Special Representative

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<v Speaker 1>for Climate and she has held a number of significant

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<v Speaker 1>positions across the climate space. She was the Special Representative

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<v Speaker 1>of the United Nations Secretary General and the CEO of

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<v Speaker 1>Sustainable Energy for All. She also served as World Bank

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<v Speaker 1>Groups Vice President and Special Envy for Climate Change. In

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<v Speaker 1>her current role. She has spent the last year up

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<v Speaker 1>to COP thirty meeting diplomats and leaders from around the

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<v Speaker 1>world trying to show up the support for action here

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<v Speaker 1>in Berlin.

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<v Speaker 4>Rachel, welcome to the show.

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<v Speaker 5>It's lovely to see you. Actually, So you.

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<v Speaker 4>Were appointed a UK Special Representative for Climate just over

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<v Speaker 4>a year ago and your goal is wide ranging. You're

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<v Speaker 4>supposed to support ministers that will help increase UK's diplomatic

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<v Speaker 4>engagement on climate globally. What have you done so far.

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<v Speaker 5>I've been out there in the world really pushing out

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<v Speaker 5>the intention of this government when it came into office,

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<v Speaker 5>which was that even though we're only one percent of

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<v Speaker 5>global emissions, that's not a reason to disengage, which I

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<v Speaker 5>think had sometimes been the case beforehand, but precisely because

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<v Speaker 5>we're only one percent of global emissions, we need the

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<v Speaker 5>other ninety nine percent to be going through the transition

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<v Speaker 5>that we've started to go through ourselves, and at the

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<v Speaker 5>same time this growing realization about how much we need

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<v Speaker 5>to be dealing with adaptation and resilience. Now we've just

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<v Speaker 5>seen the Climate Change Committee come out with a domestic

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<v Speaker 5>report on how vulnerable we are as our own country.

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<v Speaker 5>But what's been really interesting. So I've been in every continent.

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<v Speaker 5>I've been talking to middle income countries about missions reduction

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<v Speaker 5>and their energy transitions, and then talking to lower income

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<v Speaker 5>countries about growth and prosperity and investment and trade that

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<v Speaker 5>is green, and then to countries that are really vulnerable

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<v Speaker 5>about how much more we can do to mainstream adaptation

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<v Speaker 5>and resilience into their economic.

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<v Speaker 1>Growth and planning.

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<v Speaker 5>But when I'm out there, what countries want is the

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<v Speaker 5>how to, especially on the energy transition. So countless numbers

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<v Speaker 5>of countries that want technical assistance, support on power sector reform,

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<v Speaker 5>on how to build an offshore wind industry, how to

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<v Speaker 5>decommission call, how to make the transition that we've made

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<v Speaker 5>over the last twenty odd years, and then how to

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<v Speaker 5>partner with us, and how to get more UK investment

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<v Speaker 5>into their green transitions, how to talk about the difficulties

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<v Speaker 5>of hard to debate sectors, and how to get more

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<v Speaker 5>of their investment into the UK economy. So yeah, special

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<v Speaker 5>representative for Climate, but a big piece of this is

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<v Speaker 5>about the trade and investment that makes those transitions really happen.

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<v Speaker 4>And you get to do this because the UK has

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<v Speaker 4>for the last seventeen years since the UK Climate Change

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<v Speaker 4>Actor was passed a leader on climate issues, whether it

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<v Speaker 4>was the Conservative Party which led the government for most

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<v Speaker 4>of that time, or whether it's the Labor Party now,

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<v Speaker 4>And in the process the UK has shown not just

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<v Speaker 4>how to do a law, but also how to deploy

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<v Speaker 4>large amounts of renewables, how to build the grid, and

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<v Speaker 4>you get to take UK's learnings out to the world

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<v Speaker 4>but also reflect back on the UK at a time

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<v Speaker 4>when the politics are shifting. The Conservative Party that led

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<v Speaker 4>on climate now wants to get rid of the Climate

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<v Speaker 4>Change Act. Reform Party, which is gaining in polls at

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<v Speaker 4>least and is ahead of Labor and Conservatives in many cases,

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<v Speaker 4>is saying they want to get rid of net zero goal.

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<v Speaker 4>Even though this Labor government, the one that you represent,

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<v Speaker 4>isn't turning back on climate How hard does that make

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<v Speaker 4>your life when you go abroad to take the message

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<v Speaker 4>of what needs to be done on climate change.

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<v Speaker 2>Well.

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<v Speaker 5>I think that across the world many countries are experiencing

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<v Speaker 5>a pushback from populace on the right mainly but also

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<v Speaker 5>in the past on the left around the drive nets.

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<v Speaker 5>If people can't feel or imagine what a clean energy

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<v Speaker 5>future looks like to them, and feels like in their pocket.

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<v Speaker 5>Then they are vulnerable to the sort of miscommunication, disinformation

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<v Speaker 5>or whatever you often see now. So actually it's a

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<v Speaker 5>point of conversation, right. So people see that we had

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<v Speaker 5>a bipartisan support, right as Americans would say, around our goals,

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<v Speaker 5>and you know, and of course a lot of the

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<v Speaker 5>indications are that the public still wants clean air, wants

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<v Speaker 5>clean water, wants safe communities, wants protection from extreme heat,

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<v Speaker 5>wants floods planning. But what they don't like is energy

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<v Speaker 5>bills that are expensive, and there's very real reasons for that.

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<v Speaker 5>And also with all humility, I mean, you know, nobody's

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<v Speaker 5>got this all the way right, right, So, as a

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<v Speaker 5>country that is going through a moment of political tension

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<v Speaker 5>around the speed with which this transition is happening, the

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<v Speaker 5>government came in and started fixing pieces of the regulatory system,

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<v Speaker 5>putting in place bits and pieces that would allow us

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<v Speaker 5>to go faster to meet the goal of twenty thirty

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<v Speaker 5>that was set by the government when it was running

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<v Speaker 5>for office. All of that is happening, but you don't

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<v Speaker 5>necessarily see the result immediately. So then what's the challenge

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<v Speaker 5>of communication internationally? People see us in a leadership position.

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<v Speaker 5>See that this is a difficult issue domestically, but for

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<v Speaker 5>many other countries it's a difficult issue domestically, and so

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<v Speaker 5>that's a point of commonality.

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<v Speaker 1>Really.

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<v Speaker 4>So you're saying, so far the UK's leadership on climate,

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<v Speaker 4>whether that was through making laws or through energy, is

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<v Speaker 4>one that other countries wanted to copy. But now they're

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<v Speaker 4>also looking at the UK and the crumbling political consensus

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<v Speaker 4>and they are seeing whether there are lessons they can

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<v Speaker 4>learn from it. Because these things are not isolated. They're

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<v Speaker 4>not just happening in the UK. They're happening in other places. No.

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<v Speaker 5>I mean, look across the EU, look across Socania, look

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<v Speaker 5>across Latin America. You know, these are issues that are

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<v Speaker 5>present in any democracy, right. And what's interesting is a

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<v Speaker 5>number of countries now have got governments, you know, with

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<v Speaker 5>commitments to you know, phasing out of coal by twenty

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<v Speaker 5>forty or really ambitious goals around the energy transition. And

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<v Speaker 5>you know, it's not just the political narrative which has

0:13:12.160 --> 0:13:16.000
<v Speaker 5>become more pungent, right, it is also that global growth

0:13:16.559 --> 0:13:20.439
<v Speaker 5>has slowed or is not rampant. Right, So, for fear

0:13:20.480 --> 0:13:23.480
<v Speaker 5>of a populist uprising, right, a number of countries are like, Okay,

0:13:23.800 --> 0:13:27.040
<v Speaker 5>how do I transition away from coal on the timeline

0:13:27.080 --> 0:13:30.040
<v Speaker 5>that I've set, Where is the investment going to come from?

0:13:30.160 --> 0:13:33.320
<v Speaker 5>How do I navigate tensions around tariff's what is that

0:13:33.440 --> 0:13:36.360
<v Speaker 5>doing to the level of growth? How do I secure

0:13:36.360 --> 0:13:38.680
<v Speaker 5>a just transition for the people employed in the sector.

0:13:39.000 --> 0:13:43.920
<v Speaker 5>So these are universally difficult and universally important themes that

0:13:44.000 --> 0:13:46.080
<v Speaker 5>countries want to work on together. And so when I'm

0:13:46.080 --> 0:13:48.360
<v Speaker 5>traveling that's what I'm talking about.

0:13:48.480 --> 0:13:51.640
<v Speaker 4>Are there specific country examples where over the past year

0:13:51.720 --> 0:13:54.560
<v Speaker 4>you have seen that play out and work in favor

0:13:54.600 --> 0:13:55.280
<v Speaker 4>of climate action.

0:13:55.559 --> 0:13:55.839
<v Speaker 2>Yeah.

0:13:55.880 --> 0:13:59.920
<v Speaker 5>So the Philippines has got extremely ambitious goals around phase

0:14:00.000 --> 0:14:04.240
<v Speaker 5>seeing out coal and bringing in offshore wind and diversifying

0:14:04.920 --> 0:14:07.679
<v Speaker 5>and bringing more investment into solar, not just in the

0:14:07.760 --> 0:14:10.920
<v Speaker 5>sort of metromillar area, but across the country. So Korea

0:14:11.320 --> 0:14:15.280
<v Speaker 5>new government in place inherits it and was very bullish

0:14:15.600 --> 0:14:18.920
<v Speaker 5>on the campaign trail around their ambitions how do they

0:14:18.920 --> 0:14:21.520
<v Speaker 5>do it? They're about to invest in an offshore wind

0:14:21.560 --> 0:14:24.160
<v Speaker 5>industry as well. Vietnam, which is a country that we've

0:14:24.160 --> 0:14:26.600
<v Speaker 5>worked through the Just Energy Transition Partnership for a number

0:14:26.640 --> 0:14:29.280
<v Speaker 5>of years, but that's starting to move along the AZI

0:14:29.400 --> 0:14:32.000
<v Speaker 5>and power grid. How do you build a power grid

0:14:32.320 --> 0:14:35.600
<v Speaker 5>that allows each of the Asian countries to grow their

0:14:35.600 --> 0:14:39.280
<v Speaker 5>economies by accessing the clean energy that each of them possess.

0:14:39.400 --> 0:14:43.280
<v Speaker 5>Right Eastern Caribbean, how do each of those countries build

0:14:43.280 --> 0:14:47.240
<v Speaker 5>out their geothermal You know, it's probably cheaper and easier

0:14:47.240 --> 0:14:50.760
<v Speaker 5>to do it as an integrated grid, but that's really complicated.

0:14:50.760 --> 0:14:54.520
<v Speaker 5>How do they think about that? Australia India huge move

0:14:54.640 --> 0:14:57.960
<v Speaker 5>to develop offshore wind off the good coast goods you're

0:14:57.960 --> 0:15:00.400
<v Speaker 5>out off Tamil Nadu. You know how to do that.

0:15:00.520 --> 0:15:03.480
<v Speaker 5>We have a really built out technical cooperation with them anyway,

0:15:03.880 --> 0:15:06.360
<v Speaker 5>and now we're investing in each other. And then China.

0:15:06.520 --> 0:15:08.800
<v Speaker 5>I've just come back from China where we have a

0:15:08.800 --> 0:15:12.840
<v Speaker 5>technical cooperation on power sector reform and also now on

0:15:12.920 --> 0:15:14.280
<v Speaker 5>battery storage and hydrogen.

0:15:14.760 --> 0:15:18.760
<v Speaker 4>So in your time covering climate, you've covered it from

0:15:18.840 --> 0:15:21.480
<v Speaker 4>many different angles. You've worked in the private sector, You've

0:15:21.640 --> 0:15:25.000
<v Speaker 4>tried to push carbon markets, You've worked at the cop level,

0:15:25.040 --> 0:15:29.000
<v Speaker 4>looking at diplomacy and how negotiations work. We are in

0:15:29.040 --> 0:15:32.360
<v Speaker 4>the tenth year of the Paris Agreement. Could have been

0:15:32.360 --> 0:15:35.920
<v Speaker 4>this year when we celebrate what Paris has achieved. But

0:15:36.080 --> 0:15:39.360
<v Speaker 4>with the US the largest emitter, leaving the Paris Agreement,

0:15:40.600 --> 0:15:43.320
<v Speaker 4>how would you class the progress that the world has

0:15:43.520 --> 0:15:44.560
<v Speaker 4>made so far.

0:15:45.320 --> 0:15:50.160
<v Speaker 5>It's definitely made progress. I mean, over the next few days,

0:15:50.600 --> 0:15:53.760
<v Speaker 5>you know, the narrative will be, oh, we're not on track. Yeah,

0:15:53.800 --> 0:15:56.320
<v Speaker 5>we're not on track. We're more on track than we

0:15:56.360 --> 0:15:59.920
<v Speaker 5>would have been without the Paris Agreement, and the plan

0:16:00.160 --> 0:16:04.080
<v Speaker 5>that countries are now submitting are fully politically contested at home,

0:16:04.640 --> 0:16:08.320
<v Speaker 5>you know, hard fought economic plans, which is what we

0:16:08.440 --> 0:16:11.360
<v Speaker 5>really wanted ten years ago. But we're now just beginning

0:16:11.400 --> 0:16:13.160
<v Speaker 5>to see in the third generation that this is what

0:16:13.240 --> 0:16:15.840
<v Speaker 5>they are. And we wouldn't be there without the Paris Agreement.

0:16:15.880 --> 0:16:17.920
<v Speaker 5>I don't think countries would be lining up to go

0:16:17.960 --> 0:16:20.960
<v Speaker 5>through the pain of developing these reports if we hadn't.

0:16:21.240 --> 0:16:23.440
<v Speaker 5>But the point is that we're not going fast enough

0:16:23.480 --> 0:16:27.600
<v Speaker 5>and we're not going far enough, and so the Paris

0:16:27.640 --> 0:16:31.160
<v Speaker 5>Agreement is vulnerable to attack from popular so or from

0:16:31.160 --> 0:16:33.680
<v Speaker 5>the polls on the right and on the left, because

0:16:33.880 --> 0:16:37.280
<v Speaker 5>it isn't meeting needs sufficiently well. And so when we

0:16:37.360 --> 0:16:42.840
<v Speaker 5>gather in Brazil, the leaders that gather and those who

0:16:42.840 --> 0:16:46.120
<v Speaker 5>aren't there but by proxy need to sort of say, okay,

0:16:46.240 --> 0:16:50.160
<v Speaker 5>we're not yet on track, but we commit to doing more.

0:16:50.400 --> 0:16:53.400
<v Speaker 5>Transitions don't go smoothly, they don't go in a straight line.

0:16:53.600 --> 0:16:55.600
<v Speaker 5>They can go very fast and then slow down and

0:16:55.680 --> 0:16:57.680
<v Speaker 5>very fast, and it's a series of s curves. It's

0:16:57.720 --> 0:17:01.160
<v Speaker 5>a series of leaps forward, and there's no reason why

0:17:01.160 --> 0:17:03.560
<v Speaker 5>we can't commit to doing that. But the fact that

0:17:03.600 --> 0:17:07.280
<v Speaker 5>we're multilaterally all sort of working together to make this

0:17:07.400 --> 0:17:10.560
<v Speaker 5>go faster, that's the conversation. It's not a conversation about

0:17:10.560 --> 0:17:12.760
<v Speaker 5>going slower. Is important.

0:17:13.520 --> 0:17:17.119
<v Speaker 4>Are we working together though, because recently we saw a

0:17:17.280 --> 0:17:20.639
<v Speaker 4>very clear sign of how things don't work together at

0:17:20.720 --> 0:17:25.040
<v Speaker 4>multilateral forums. The International Maritime Organization had a vote to

0:17:25.080 --> 0:17:29.439
<v Speaker 4>put in a global carbon tax for shipping, a sector

0:17:29.480 --> 0:17:33.800
<v Speaker 4>that produces one billion tons of emissions, and until about

0:17:33.840 --> 0:17:37.440
<v Speaker 4>the day of the vote, there was good feeling among

0:17:37.480 --> 0:17:42.920
<v Speaker 4>countries that they'd argued over politically contested plan and had

0:17:42.960 --> 0:17:45.120
<v Speaker 4>come to something that they could agree on. And then

0:17:45.240 --> 0:17:50.320
<v Speaker 4>one country, the US, with its ability to call diplomats

0:17:50.440 --> 0:17:53.760
<v Speaker 4>and make threats, which we've reported on, caused them to

0:17:53.840 --> 0:17:56.280
<v Speaker 4>delay the vote, and now some say that it may

0:17:56.320 --> 0:17:59.520
<v Speaker 4>never come to pass. So are we working together.

0:18:00.000 --> 0:18:03.000
<v Speaker 5>This majority of countries are working together. For sure. I

0:18:03.040 --> 0:18:07.199
<v Speaker 5>think what happened at the IMO was extraordinarily disappointing, right,

0:18:07.200 --> 0:18:10.800
<v Speaker 5>I mean, that's a decade's effort at best delayed, at

0:18:10.800 --> 0:18:13.399
<v Speaker 5>worst put on the shelf. And so we'll have to

0:18:13.400 --> 0:18:15.160
<v Speaker 5>come back at it another way and find a way

0:18:15.160 --> 0:18:17.920
<v Speaker 5>to do this, because that the polluter has to pay

0:18:18.160 --> 0:18:20.520
<v Speaker 5>is a kind of fundamental principle of all of this.

0:18:21.200 --> 0:18:24.800
<v Speaker 5>And yeah, the United States made clear its position over

0:18:24.840 --> 0:18:28.359
<v Speaker 5>the summer and then intensified its diplomacy in the days

0:18:28.480 --> 0:18:31.399
<v Speaker 5>up to the vote. But it also creates space for

0:18:31.520 --> 0:18:35.120
<v Speaker 5>plausible deniability for other countries that, for whatever reasons, didn't

0:18:35.200 --> 0:18:39.240
<v Speaker 5>like this or didn't like that. So in any multilateral negotiation,

0:18:40.000 --> 0:18:43.080
<v Speaker 5>there may be one protagonist which attracts most of the attention,

0:18:43.240 --> 0:18:46.440
<v Speaker 5>but it normally creates new spaces which can be exploited

0:18:46.440 --> 0:18:48.560
<v Speaker 5>one way or the other. But when it comes to blame,

0:18:48.640 --> 0:18:51.159
<v Speaker 5>I think obviously the United States has said that it

0:18:51.560 --> 0:18:56.760
<v Speaker 5>filed its intention to withdraw. That comes due after cop

0:18:56.840 --> 0:18:58.439
<v Speaker 5>right but at the end of the year beginning of

0:18:58.640 --> 0:19:02.320
<v Speaker 5>twenty twenty six. So for the moment, the United States

0:19:02.359 --> 0:19:05.960
<v Speaker 5>is in, but it has made clear its intention to leave,

0:19:06.560 --> 0:19:09.000
<v Speaker 5>which puts it in a minority, even if it is

0:19:09.040 --> 0:19:12.080
<v Speaker 5>a large economy and nobody else is leaving it. And

0:19:12.119 --> 0:19:15.520
<v Speaker 5>so I think it is clear that everybody's working together,

0:19:16.040 --> 0:19:18.639
<v Speaker 5>and I think it's clear that when we gather on

0:19:18.960 --> 0:19:20.919
<v Speaker 5>the port city in the middle of the Amazon, that

0:19:21.560 --> 0:19:24.000
<v Speaker 5>what leaders will be saying is that this is a

0:19:24.080 --> 0:19:27.040
<v Speaker 5>multilateral process which is a value and will be defended,

0:19:27.080 --> 0:19:30.840
<v Speaker 5>and we will defend the multilateral processes that help us

0:19:30.880 --> 0:19:34.399
<v Speaker 5>work together on these problems which go beyond all boundaries.

0:19:35.359 --> 0:19:38.400
<v Speaker 4>If you take this ten years on Paris, A lot

0:19:38.440 --> 0:19:40.680
<v Speaker 4>of it at COP meetings, and I've been to five

0:19:40.720 --> 0:19:43.159
<v Speaker 4>of them, so not as many as you, but I

0:19:43.160 --> 0:19:47.040
<v Speaker 4>can say it's so technical and so in depth necessary,

0:19:47.320 --> 0:19:50.560
<v Speaker 4>but one that doesn't break through for a politician to

0:19:50.640 --> 0:19:53.200
<v Speaker 4>go back home and make a case for why we

0:19:53.240 --> 0:19:57.199
<v Speaker 4>are doing climate action. How do you take what has

0:19:57.240 --> 0:20:00.399
<v Speaker 4>been achieved and make that case in a political away

0:20:00.880 --> 0:20:04.639
<v Speaker 4>to people so that the next ten years leaders can

0:20:04.720 --> 0:20:07.000
<v Speaker 4>continue to support this multilateral forum.

0:20:07.080 --> 0:20:09.439
<v Speaker 5>Yeah, it's a great question. So for the last ten years.

0:20:09.960 --> 0:20:12.040
<v Speaker 5>So first of all, we agreed Paris, then everybody sort

0:20:12.080 --> 0:20:16.240
<v Speaker 5>of went home, and then the negotiators sort of negotiated

0:20:16.280 --> 0:20:18.719
<v Speaker 5>a rule book on how we would implement what we'd agreed,

0:20:19.240 --> 0:20:21.680
<v Speaker 5>and that took way too long, But that's done now

0:20:21.920 --> 0:20:24.240
<v Speaker 5>and you could actually say that we've negotiated everything that

0:20:24.280 --> 0:20:28.280
<v Speaker 5>needs to be negotiated, and so what this cop represents

0:20:28.320 --> 0:20:32.800
<v Speaker 5>is a significant pivot to accelerating implementation. So it's all

0:20:32.840 --> 0:20:35.800
<v Speaker 5>about implementing all of the things that we've agreed. That's

0:20:35.840 --> 0:20:38.439
<v Speaker 5>what the Brazilians are trying to organize, like outside of

0:20:38.480 --> 0:20:42.040
<v Speaker 5>the negotiations, and I think that that's actually much easier

0:20:42.240 --> 0:20:45.159
<v Speaker 5>for politicians to sell at home. So why would we

0:20:45.240 --> 0:20:50.320
<v Speaker 5>go to Brazil and discuss investing in the Amazon and

0:20:50.359 --> 0:20:54.359
<v Speaker 5>other tropical forests right? Well, first, because if we lose them,

0:20:54.760 --> 0:20:58.000
<v Speaker 5>we lose control over the thermostatu of the planet. Right

0:20:58.040 --> 0:21:01.040
<v Speaker 5>we will pass a tipping point which will bring much

0:21:01.080 --> 0:21:04.720
<v Speaker 5>more climate impact to everybody. But you know, to look

0:21:04.760 --> 0:21:07.040
<v Speaker 5>at it from a British perspective, if we lose the

0:21:07.080 --> 0:21:11.280
<v Speaker 5>tropical forests and their integrity, our own food security is

0:21:11.320 --> 0:21:14.720
<v Speaker 5>going to be massively disrupted. So the idea that our

0:21:14.800 --> 0:21:19.119
<v Speaker 5>domestic security is secure if we haven't got you know,

0:21:19.280 --> 0:21:22.720
<v Speaker 5>a climate regime which is starting to see real progress,

0:21:22.880 --> 0:21:26.159
<v Speaker 5>is you know, at the very heart of why I existed,

0:21:26.240 --> 0:21:28.920
<v Speaker 5>my rule and my twin Ruth Davis, who's the special

0:21:28.960 --> 0:21:31.720
<v Speaker 5>representative of nature, why she exists. You know, we're there

0:21:31.920 --> 0:21:34.760
<v Speaker 5>because our foreign policy has to have climate and nature

0:21:34.760 --> 0:21:38.040
<v Speaker 5>at the heart of it, because we need those relationships

0:21:38.040 --> 0:21:40.639
<v Speaker 5>in order to be secure ourselves. So that's the reason

0:21:40.680 --> 0:21:42.679
<v Speaker 5>to go, right, We're not going to be safe and

0:21:42.720 --> 0:21:44.840
<v Speaker 5>we're not going to be secure. We're not going to

0:21:44.880 --> 0:21:48.120
<v Speaker 5>prosper if we lose the tropical rainforests. It's as simple

0:21:48.160 --> 0:21:50.200
<v Speaker 5>as that. So I think that as we get into

0:21:50.600 --> 0:21:54.720
<v Speaker 5>implementation and accelerating implementation, it's actually easier to explain to

0:21:54.720 --> 0:21:56.040
<v Speaker 5>the world's public why we're there.

0:21:57.040 --> 0:21:59.880
<v Speaker 4>You've got many examples that you could use to say, sure,

0:22:00.160 --> 0:22:03.440
<v Speaker 4>this should land right. The price of coffee has gone

0:22:03.520 --> 0:22:07.840
<v Speaker 4>up because there's been persistent drought in Brazil, which produces

0:22:07.840 --> 0:22:11.159
<v Speaker 4>forty percent of the world's coffee. The price of electricity

0:22:11.240 --> 0:22:15.840
<v Speaker 4>is high because we've had very high gas prices because

0:22:15.880 --> 0:22:20.280
<v Speaker 4>of the Russian attack on Ukraine, which have been brought

0:22:20.320 --> 0:22:23.879
<v Speaker 4>down because of renewables. There are real world clear examples,

0:22:23.920 --> 0:22:28.199
<v Speaker 4>but they're not cutting through to people. What's missing.

0:22:28.600 --> 0:22:28.800
<v Speaker 2>Well.

0:22:28.840 --> 0:22:33.119
<v Speaker 5>I think that we haven't in many cases taken the

0:22:33.200 --> 0:22:37.520
<v Speaker 5>time and the effort to convey those stories in ways

0:22:37.520 --> 0:22:39.600
<v Speaker 5>that people can hear. I mean, I think, you know,

0:22:39.640 --> 0:22:43.720
<v Speaker 5>there's a danger in seeding the marketplace, the public marketplace,

0:22:44.400 --> 0:22:48.520
<v Speaker 5>to the scare mongering and the misinformation from the far

0:22:48.600 --> 0:22:50.560
<v Speaker 5>right and the far left. So I think that we

0:22:50.600 --> 0:22:54.640
<v Speaker 5>have a responsibility to tell these stories in the way

0:22:54.640 --> 0:22:58.240
<v Speaker 5>that people can understand. And I think in particular around

0:22:58.880 --> 0:23:03.600
<v Speaker 5>the issues around nature, I think people are inclined to

0:23:03.720 --> 0:23:07.480
<v Speaker 5>understand that without nature, it's going to be very difficult

0:23:07.720 --> 0:23:12.159
<v Speaker 5>to produce food, to have stable watersheds, to be able

0:23:12.240 --> 0:23:15.879
<v Speaker 5>to balance the planet's own needs with hours, and that

0:23:16.240 --> 0:23:18.440
<v Speaker 5>we're not going to be resilient without nature. I mean,

0:23:18.480 --> 0:23:21.800
<v Speaker 5>I think there's a sensibility in people in countries around

0:23:21.800 --> 0:23:24.000
<v Speaker 5>the world that that makes sense to them.

0:23:24.200 --> 0:23:26.199
<v Speaker 4>And so if the next ten years of COP are

0:23:26.200 --> 0:23:28.600
<v Speaker 4>about implementing all the goals and the rules that have

0:23:28.640 --> 0:23:32.679
<v Speaker 4>been put in place, this cop and what it produces

0:23:32.880 --> 0:23:35.520
<v Speaker 4>will be a test case for what next cops are

0:23:35.520 --> 0:23:38.280
<v Speaker 4>going to look like. What do you expect this coup

0:23:38.280 --> 0:23:38.840
<v Speaker 4>will achieve?

0:23:39.200 --> 0:23:41.600
<v Speaker 5>Well, so I think we'll go back to the theory

0:23:41.600 --> 0:23:44.280
<v Speaker 5>of change, right, theory of changes that we have an

0:23:44.359 --> 0:23:48.320
<v Speaker 5>energy transition that moves us towards clean energy, that that

0:23:48.400 --> 0:23:52.439
<v Speaker 5>clean energy allows us to electrify services to people and

0:23:52.520 --> 0:23:55.879
<v Speaker 5>to the economy, which means that they can engage with

0:23:55.960 --> 0:23:59.440
<v Speaker 5>them benefit from all of the installed renewable energy. I

0:23:59.440 --> 0:24:03.399
<v Speaker 5>think of electrification transforms people's lives, right. And then at

0:24:03.400 --> 0:24:06.840
<v Speaker 5>the same time, we stop deforesting in particular tropical forests,

0:24:07.000 --> 0:24:08.879
<v Speaker 5>and then we have to protect land usee et cetera.

0:24:09.200 --> 0:24:11.239
<v Speaker 5>And then there's bits about the oceans or whatever. But

0:24:11.320 --> 0:24:14.280
<v Speaker 5>at the very center of that, then I think what

0:24:14.400 --> 0:24:16.840
<v Speaker 5>I would expect from this COP is that first of all,

0:24:16.640 --> 0:24:18.920
<v Speaker 5>we have a COP where the rest of the world

0:24:18.960 --> 0:24:21.600
<v Speaker 5>says we're going to continue working on this. You know,

0:24:21.720 --> 0:24:23.480
<v Speaker 5>if you want to leave, leave, but we're going to

0:24:23.560 --> 0:24:27.720
<v Speaker 5>keep going. Then I would expect to see announcements around

0:24:28.080 --> 0:24:32.000
<v Speaker 5>funding tropical forests. I'd expect to see investing in them

0:24:32.080 --> 0:24:35.919
<v Speaker 5>rather not funding them. I would expect to see statements

0:24:35.960 --> 0:24:39.240
<v Speaker 5>around the growth of carbon markets, both what I would

0:24:39.240 --> 0:24:42.840
<v Speaker 5>call compliance markets, so trading systems and taxes, but also

0:24:43.200 --> 0:24:46.280
<v Speaker 5>I would expect to see, you know, statements around governments

0:24:46.400 --> 0:24:50.359
<v Speaker 5>leaning in to stimulate demand from the corporate sector for

0:24:50.440 --> 0:24:54.119
<v Speaker 5>voluntary markets as well. I think you'll see some agreements

0:24:54.119 --> 0:24:57.200
<v Speaker 5>between countries as well using Article six, So a big

0:24:57.240 --> 0:25:00.639
<v Speaker 5>thing about revenue into nature. I think you'll see the also,

0:25:00.720 --> 0:25:05.760
<v Speaker 5>then statements around methane. Methane or methane is the handbrake

0:25:06.000 --> 0:25:08.159
<v Speaker 5>that we can apply to global warming, because if we

0:25:08.200 --> 0:25:11.679
<v Speaker 5>can deliver on all the pledges and the statements that

0:25:11.720 --> 0:25:13.879
<v Speaker 5>have been made, that's half a degree of warming in

0:25:13.920 --> 0:25:16.440
<v Speaker 5>a very short period of time. I think you'll see

0:25:16.560 --> 0:25:20.439
<v Speaker 5>then a big discussion, a big discussion, and hopefully a

0:25:20.560 --> 0:25:25.560
<v Speaker 5>positive resolution around adaptation finance. This has always played the

0:25:25.560 --> 0:25:29.840
<v Speaker 5>step sister to funding mitigation, but every country in the

0:25:29.880 --> 0:25:33.640
<v Speaker 5>world is experiencing really quite extreme impacts, and so how

0:25:33.720 --> 0:25:36.080
<v Speaker 5>we pay for that, And that means that we have

0:25:36.119 --> 0:25:39.719
<v Speaker 5>to take the adaptation finance discussion away from just the

0:25:39.720 --> 0:25:43.359
<v Speaker 5>cops and the sort of highly sort of stylized debate

0:25:43.400 --> 0:25:45.880
<v Speaker 5>that we have there. Not to say that we walk

0:25:45.920 --> 0:25:48.359
<v Speaker 5>away from our commitments, We're good for that, but we

0:25:48.440 --> 0:25:50.720
<v Speaker 5>have to start having a conversation about how we help

0:25:50.760 --> 0:25:55.040
<v Speaker 5>people be resilient, which is about safety nets and social security,

0:25:55.240 --> 0:25:57.959
<v Speaker 5>and how do you fund your health service and education service,

0:25:58.440 --> 0:26:02.040
<v Speaker 5>how do you help nature are resilience, which means funding nature,

0:26:02.400 --> 0:26:05.520
<v Speaker 5>And then how we help infrastructure be resilient. So you know,

0:26:05.560 --> 0:26:08.399
<v Speaker 5>what is the cost of infrastructure which is resilient to

0:26:08.440 --> 0:26:11.000
<v Speaker 5>the kinds of impacts that we see already, and who's

0:26:11.040 --> 0:26:15.040
<v Speaker 5>paying for that? And could we reward companies for investing

0:26:15.080 --> 0:26:18.080
<v Speaker 5>in making sure that that infrastructure is resilient rather than

0:26:18.119 --> 0:26:20.119
<v Speaker 5>sort of charging it as a cost. So there's all

0:26:20.200 --> 0:26:22.200
<v Speaker 5>kinds of issues which we never get to talk about

0:26:22.200 --> 0:26:24.880
<v Speaker 5>in the negotiation because it's sort of you know, rich

0:26:24.920 --> 0:26:27.679
<v Speaker 5>world versus poor world, you know, North versus South. But

0:26:27.760 --> 0:26:30.199
<v Speaker 5>I hope that we would actually come out with a

0:26:30.280 --> 0:26:32.240
<v Speaker 5>way forward on adaptation finance.

0:26:32.600 --> 0:26:35.720
<v Speaker 4>The dynamics in previous cops have been, as you point out,

0:26:35.840 --> 0:26:40.679
<v Speaker 4>rich versus poor because there is a historical reason for it.

0:26:40.760 --> 0:26:44.840
<v Speaker 4>The rich countries absolutely emit more and are responsible for

0:26:44.920 --> 0:26:48.200
<v Speaker 4>most of climate change as it's occurred, and poor countries

0:26:48.280 --> 0:26:52.639
<v Speaker 4>still have room to emit carbon but also have a

0:26:52.800 --> 0:26:58.320
<v Speaker 4>deep need for economic growth. In this COP, where the

0:26:58.480 --> 0:27:03.240
<v Speaker 4>US is not yet left but is leaving, the dynamics

0:27:03.280 --> 0:27:07.200
<v Speaker 4>will be much harder because it's not just about rich

0:27:07.320 --> 0:27:12.440
<v Speaker 4>versus poor. It's also about a rich country abandoning its

0:27:12.760 --> 0:27:17.359
<v Speaker 4>goal to act and other rich countries not yet standing

0:27:17.480 --> 0:27:19.879
<v Speaker 4>up and saying we can fill that gap.

0:27:20.520 --> 0:27:22.960
<v Speaker 5>Well, I don't think anybody can fill the US's gap,

0:27:23.000 --> 0:27:26.600
<v Speaker 5>but I think that we and other countries within the

0:27:26.640 --> 0:27:31.000
<v Speaker 5>EU and other developed countries, if that's a word that

0:27:31.080 --> 0:27:34.800
<v Speaker 5>still we can use. We'll be leaning in and saying

0:27:34.840 --> 0:27:37.600
<v Speaker 5>this is how we can use the international architecture, this

0:27:37.640 --> 0:27:40.920
<v Speaker 5>is how we can use our own resources. And then

0:27:40.960 --> 0:27:44.320
<v Speaker 5>you've got a set of voluntary contributors right under the

0:27:44.480 --> 0:27:48.439
<v Speaker 5>Convention and under the Paris Agreement who are now really

0:27:48.520 --> 0:27:51.800
<v Speaker 5>leaning in and doing an extraordinary amount. So that's the

0:27:52.240 --> 0:27:54.760
<v Speaker 5>China's and the Saudi Arabias and the Indias of this world.

0:27:55.280 --> 0:27:58.680
<v Speaker 5>And then you've got sort of all of the multilateral processes.

0:27:59.119 --> 0:28:02.600
<v Speaker 5>And then you've got this leadership call from Mia Motley

0:28:02.600 --> 0:28:05.160
<v Speaker 5>in the Bridgetown Initiative, but you know, joined by most

0:28:05.200 --> 0:28:08.600
<v Speaker 5>other countries, which is to flip a switch or to

0:28:09.320 --> 0:28:14.960
<v Speaker 5>redesign the international architecture around the lack of fairness in

0:28:15.000 --> 0:28:17.159
<v Speaker 5>the way that the architecture works at the moment. So

0:28:17.880 --> 0:28:20.879
<v Speaker 5>you know, when you've got more cash leaving the Caribbean

0:28:21.720 --> 0:28:24.800
<v Speaker 5>than arriving into the Caribbean, then how on earth do

0:28:24.840 --> 0:28:27.520
<v Speaker 5>you build the fiscal space and the resilience for them

0:28:27.560 --> 0:28:29.880
<v Speaker 5>to be able to withstand I mean, I mean, I'm

0:28:29.880 --> 0:28:33.280
<v Speaker 5>talking to you today with Hurricane Melissa bearing down on Jamaica.

0:28:34.280 --> 0:28:37.359
<v Speaker 5>So you know, the US can absent itself from the

0:28:37.400 --> 0:28:40.719
<v Speaker 5>Paris Agreement. But look at the leadership from Singapore, look

0:28:40.760 --> 0:28:43.600
<v Speaker 5>at the leadership from China, from Saudi Arabia, from US,

0:28:43.680 --> 0:28:46.520
<v Speaker 5>from Germany. This is where it's growing. And I was

0:28:46.560 --> 0:28:48.880
<v Speaker 5>just at the Africa Climate Summit just a few weeks

0:28:48.920 --> 0:28:52.800
<v Speaker 5>ago in Alice Aberba, and you know, there weren't a

0:28:52.800 --> 0:28:54.880
<v Speaker 5>lot of Western journalists then there weren't a lot of

0:28:55.200 --> 0:28:58.960
<v Speaker 5>Western business leaders there either. But the message from African

0:28:59.040 --> 0:29:02.920
<v Speaker 5>leaders was like, this is our moment. Help us meet

0:29:03.000 --> 0:29:07.720
<v Speaker 5>our moment. This is good investment. You will be rewarded. Well,

0:29:08.040 --> 0:29:12.440
<v Speaker 5>don't misperceive the risk of investing in our infrastructure. Oh

0:29:12.520 --> 0:29:15.080
<v Speaker 5>and by the way, adaptation is job rich. And you

0:29:15.120 --> 0:29:18.760
<v Speaker 5>know we've got lots of young people. So I'm not Pollyanna,

0:29:19.000 --> 0:29:22.280
<v Speaker 5>and I don't want to underestimate the impact of the

0:29:22.400 --> 0:29:28.440
<v Speaker 5>US's withdrawal. US finance, US business, Global finance, Global business

0:29:29.040 --> 0:29:32.080
<v Speaker 5>is dealing with the reality of what climate is doing

0:29:32.080 --> 0:29:35.720
<v Speaker 5>to our economy and that changes the opportunities as well

0:29:35.760 --> 0:29:39.600
<v Speaker 5>as produces more risks, right, So climate change has changed

0:29:39.640 --> 0:29:44.280
<v Speaker 5>our economic geography. That is reflected then in opportunity seeking

0:29:44.320 --> 0:29:47.000
<v Speaker 5>and risk management by the financial sector.

0:29:47.600 --> 0:29:51.280
<v Speaker 4>If the COP meeting plays out like the IMO did,

0:29:52.360 --> 0:29:56.040
<v Speaker 4>and we have seen failures at COP before the two

0:29:56.480 --> 0:30:00.400
<v Speaker 4>and nine Copenhagen Summit led to a lot of reflection

0:30:00.680 --> 0:30:04.160
<v Speaker 4>and took a good time before multilateralism could work and

0:30:04.320 --> 0:30:07.960
<v Speaker 4>have a Paris Agreement agreed on twenty fifteen, six years later.

0:30:08.360 --> 0:30:11.479
<v Speaker 4>If we see a failure like that at COP thirty,

0:30:12.640 --> 0:30:15.040
<v Speaker 4>how should the world react?

0:30:15.280 --> 0:30:18.920
<v Speaker 5>So I think that our Brazilian hosts and countries that

0:30:18.960 --> 0:30:22.200
<v Speaker 5>are prepared to lead and have led by the quality

0:30:22.240 --> 0:30:27.760
<v Speaker 5>of their NDCs, are very alive to the risk of

0:30:27.880 --> 0:30:31.520
<v Speaker 5>a collapsed CARP or a COP that struggles to come

0:30:31.520 --> 0:30:33.880
<v Speaker 5>to an agreement. But that was then and this is

0:30:33.960 --> 0:30:38.480
<v Speaker 5>now in that this is about implementing what we've already agreed,

0:30:39.200 --> 0:30:41.720
<v Speaker 5>and so in some respects it is a different COP

0:30:41.760 --> 0:30:44.720
<v Speaker 5>And I think the real issue is how to communicate

0:30:44.760 --> 0:30:48.160
<v Speaker 5>that to the global public. You know, how to communicate that. Yeah,

0:30:48.240 --> 0:30:50.880
<v Speaker 5>there was a point in gathering and we didn't all

0:30:50.920 --> 0:30:53.000
<v Speaker 5>need to get together because we do need to go

0:30:53.040 --> 0:30:55.720
<v Speaker 5>further than what we promised to do. And by the way,

0:30:55.800 --> 0:30:58.760
<v Speaker 5>there's all of this amazing stuff already happening. So you know,

0:30:58.800 --> 0:31:02.040
<v Speaker 5>in a moment of transition, whether you follow Gramchy or others, right,

0:31:03.000 --> 0:31:05.040
<v Speaker 5>that's good going on. There's lots of bad going on.

0:31:05.120 --> 0:31:10.200
<v Speaker 5>There's incoherence, but those two truths are living simultaneously, and

0:31:10.200 --> 0:31:12.840
<v Speaker 5>we've got to make sure that we actually deliver. But

0:31:12.960 --> 0:31:15.800
<v Speaker 5>I don't believe that one country can collapse this process.

0:31:16.440 --> 0:31:18.160
<v Speaker 5>First of all, I think that the IMO was a

0:31:18.200 --> 0:31:21.680
<v Speaker 5>salutary lesson to everybody. And secondly, I think the vested

0:31:21.720 --> 0:31:24.520
<v Speaker 5>interests of the majority of the world's population are in

0:31:25.240 --> 0:31:28.400
<v Speaker 5>finding a way to move through this transition in an affordable,

0:31:28.480 --> 0:31:31.680
<v Speaker 5>reliable way. There is no doubt that the science is

0:31:31.720 --> 0:31:35.600
<v Speaker 5>clear and that at some point people expect their leaders

0:31:35.640 --> 0:31:36.400
<v Speaker 5>to protect them.

0:31:36.760 --> 0:31:40.320
<v Speaker 4>So you've just come back from China. Now, as much

0:31:40.320 --> 0:31:42.959
<v Speaker 4>as we talk about the rich poor divide at COPS,

0:31:43.080 --> 0:31:47.120
<v Speaker 4>there's also the US versus China dynamics that play out

0:31:47.160 --> 0:31:50.120
<v Speaker 4>at COP. In this case, the US is leaving and

0:31:50.280 --> 0:31:53.239
<v Speaker 4>China is stepping up. They are going to put out

0:31:53.280 --> 0:31:56.720
<v Speaker 4>an NDC. We understand they have a goal to reach

0:31:56.760 --> 0:31:59.920
<v Speaker 4>that zero by twenty sixty. They have become an exported

0:32:00.240 --> 0:32:05.440
<v Speaker 4>giant on clean tech. How significant do you think China's

0:32:05.520 --> 0:32:06.840
<v Speaker 4>leadership will be for this.

0:32:06.880 --> 0:32:10.760
<v Speaker 5>Cop Yeah, so as the largest elector state, they play

0:32:10.800 --> 0:32:13.240
<v Speaker 5>an outsized role in terms of their influence on the

0:32:13.280 --> 0:32:18.520
<v Speaker 5>global economy and of the opportunity of clean energy and electrification.

0:32:19.160 --> 0:32:25.000
<v Speaker 5>And then politically they are emerging. So by that I

0:32:25.080 --> 0:32:28.680
<v Speaker 5>mean that they are bilaterally very strong when they want

0:32:28.720 --> 0:32:33.600
<v Speaker 5>to be, but they are emerging as a master of multinaturalism.

0:32:33.640 --> 0:32:36.360
<v Speaker 5>They are completely committed to the multnatural process. They have

0:32:36.440 --> 0:32:39.600
<v Speaker 5>been very vocal all the way through twenty twenty five

0:32:39.640 --> 0:32:42.560
<v Speaker 5>about their commitment to the Paris Agreement. They spoke out

0:32:42.680 --> 0:32:45.400
<v Speaker 5>strongly at the recent annual meetings of the IMF and

0:32:45.440 --> 0:32:48.200
<v Speaker 5>the World Bank, so that commitment is clear. But they

0:32:48.200 --> 0:32:51.040
<v Speaker 5>are just emerging as into a space where the world

0:32:51.080 --> 0:32:54.200
<v Speaker 5>expects them to sort of lead on the multilateral stage.

0:32:54.280 --> 0:32:56.160
<v Speaker 5>I mean, obviously they've been members of the G twenty

0:32:56.200 --> 0:32:58.680
<v Speaker 5>for a number of years since the beginning. But it's

0:32:58.800 --> 0:33:01.840
<v Speaker 5>one thing to lead by lad it's another to lead multinaturally.

0:33:01.840 --> 0:33:04.240
<v Speaker 5>And I think that they're feeling their way a little bit.

0:33:04.560 --> 0:33:08.840
<v Speaker 5>So yes, they are clearly a very important and you know,

0:33:09.120 --> 0:33:13.080
<v Speaker 5>significant power how they play their cards, I think is

0:33:13.080 --> 0:33:17.240
<v Speaker 5>something that remains to be seen, but they will come,

0:33:17.600 --> 0:33:19.720
<v Speaker 5>you know, fully committed and that I think they're bringing

0:33:19.720 --> 0:33:22.640
<v Speaker 5>a large delegation of business leaders and other leaders as

0:33:22.640 --> 0:33:25.880
<v Speaker 5>well as the negotiators that we all know so well.

0:33:25.960 --> 0:33:31.040
<v Speaker 5>So yeah, committed multilateralists emerging as multilateral leaders.

0:33:31.800 --> 0:33:35.400
<v Speaker 4>So Brazil, as home to the Amazon, is working towards

0:33:35.440 --> 0:33:40.760
<v Speaker 4>getting this Tropical Forest Forever Facility funded, and that would

0:33:40.800 --> 0:33:44.920
<v Speaker 4>be a way to get countries with these forests a

0:33:45.040 --> 0:33:49.320
<v Speaker 4>revenue stream to protect those forests. But a lot of

0:33:49.360 --> 0:33:52.080
<v Speaker 4>the deforestation, not just in the Amazon, but around the

0:33:52.080 --> 0:33:56.719
<v Speaker 4>world happens because people have needs for food and for fuel.

0:33:56.960 --> 0:33:59.920
<v Speaker 4>They'll either cut it to cook the food, or they'll

0:34:00.280 --> 0:34:02.720
<v Speaker 4>cut it so that they can grow food on those lands.

0:34:03.400 --> 0:34:06.040
<v Speaker 4>What is the way to actually start to reduce emissions

0:34:06.080 --> 0:34:08.799
<v Speaker 4>from this land news sector that is so varied and

0:34:09.360 --> 0:34:10.520
<v Speaker 4>so important to people.

0:34:10.800 --> 0:34:13.480
<v Speaker 5>One of the reasons why I think Brazil's got credibility

0:34:13.560 --> 0:34:15.279
<v Speaker 5>in trying to build this fund, and of course it's

0:34:15.320 --> 0:34:19.040
<v Speaker 5>only one part of the Amazon stewardship, is that it

0:34:19.080 --> 0:34:22.319
<v Speaker 5>has shown that you can change the rate of deforestation

0:34:22.480 --> 0:34:24.960
<v Speaker 5>very quickly. Right if you look at Lula's first term,

0:34:25.239 --> 0:34:27.680
<v Speaker 5>and also look at what he's done in his second term.

0:34:27.960 --> 0:34:32.399
<v Speaker 5>He has reversed accelerating rates of deforestation very quickly. And

0:34:32.480 --> 0:34:35.800
<v Speaker 5>so for both the sort of Indonesia and the broader

0:34:36.080 --> 0:34:39.800
<v Speaker 5>Southeast Asian basin, for the Congo basin and for the Amazon,

0:34:40.440 --> 0:34:44.200
<v Speaker 5>the politics are different, the array of countries that steward

0:34:44.239 --> 0:34:46.879
<v Speaker 5>the forests are different. But if you can get at

0:34:46.920 --> 0:34:52.000
<v Speaker 5>scale payments, I mean fundamentally, it's payments for ecosystem services.

0:34:52.000 --> 0:34:55.560
<v Speaker 5>You get payments into countries and then to the people

0:34:55.600 --> 0:35:01.280
<v Speaker 5>most directly affected. So they're in this TFFF Future Forest

0:35:01.760 --> 0:35:05.160
<v Speaker 5>Fund or facility. If it goes forward, twenty percent of

0:35:05.200 --> 0:35:08.200
<v Speaker 5>the revenues will go directly to indigenous peoples and to

0:35:08.280 --> 0:35:12.400
<v Speaker 5>local communities in countries that qualify i e. They committed

0:35:12.440 --> 0:35:15.240
<v Speaker 5>to integrity in the way in which they manage their forests.

0:35:15.640 --> 0:35:17.839
<v Speaker 5>Then that helps. But I think what the Brazilians are

0:35:17.840 --> 0:35:20.960
<v Speaker 5>trying to do is actually build a scaled fund, right,

0:35:21.040 --> 0:35:24.320
<v Speaker 5>so not you know, handouts of aid money or whatever

0:35:24.760 --> 0:35:28.799
<v Speaker 5>in small amounts to small communities, but actually you know

0:35:28.880 --> 0:35:32.960
<v Speaker 5>a significant revenue stream of hundreds of millions of dollars

0:35:33.000 --> 0:35:37.280
<v Speaker 5>and growing every year for the payment of those services

0:35:37.320 --> 0:35:39.880
<v Speaker 5>from the forest that are standing. So in some ways

0:35:39.920 --> 0:35:43.920
<v Speaker 5>it's not new, but the structure and the scale of

0:35:43.960 --> 0:35:48.120
<v Speaker 5>ambition and who would participate is new.

0:35:48.920 --> 0:35:59.960
<v Speaker 4>Thank you, Rachel, thank you, thank you for listening to Zero.

0:36:00.600 --> 0:36:02.480
<v Speaker 1>If you like this episode, please take a moment to

0:36:02.560 --> 0:36:05.000
<v Speaker 1>rate and review the show on Apple Podcasts and Spotify.

0:36:05.400 --> 0:36:08.160
<v Speaker 1>This episode was produced by Oscar Boyd with additional help

0:36:08.200 --> 0:36:11.680
<v Speaker 1>from Anna Mazarakis. Our theme music is composed by Wonderly

0:36:12.120 --> 0:36:15.880
<v Speaker 1>Special Thanks to Samarsadi Moses Andam Laura Milan and Sharan

0:36:15.960 --> 0:36:18.560
<v Speaker 1>chan i'm Akshadrati Baksu